NexTier Oilfield Solutions Inc. (NYSE:NEX) Position Increased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its stake in NexTier Oilfield Solutions Inc. (NYSE:NEX – Get Rating) by 566.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,225 shares of the company’s stock after purchasing an additional 19,739 shares during the period. Tower Research Capital LLC TRC’s holdings in NexTier Oilfield Solutions were worth $172,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in NexTier Oilfield Solutions by 42.9% during the 2nd quarter. Captrust Financial Advisors now owns 4,066 shares of the company’s stock valued at $39,000 after acquiring an additional 1,221 shares in the last quarter. Macquarie Group Ltd. raised its stake in NexTier Oilfield Solutions by 52.7% during the 2nd quarter. Macquarie Group Ltd. now owns 6,831 shares of the company’s stock valued at $65,000 after acquiring an additional 2,357 shares in the last quarter. Eagle Bay Advisors LLC raised its stake in NexTier Oilfield Solutions by 132.3% during the 2nd quarter. Eagle Bay Advisors LLC now owns 7,816 shares of the company’s stock valued at $74,000 after acquiring an additional 4,452 shares in the last quarter. Galvin Gaustad & Stein LLC bought a new stake in NexTier Oilfield Solutions during the 3rd quarter valued at $89,000. Finally, Mackenzie Financial Corp bought a new stake in NexTier Oilfield Solutions during the 2nd quarter valued at $114,000. Institutional investors own 76.09% of the company’s stock.

NexTier Oilfield Solutions Stock Performance

Shares of NYSE NEX opened at $10.46 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 1.61 and a beta of 2.10. The stock’s fifty day simple moving average is $9.29 and its 200 day simple moving average is $9.42. NexTier Oilfield Solutions Inc. has a 52-week low of $6.66 and a 52-week high of $12.50.

NexTier Oilfield Solutions (NYSE:NEX – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.13. The business had revenue of $870.86 million for the quarter, compared to analysts’ expectations of $871.20 million. NexTier Oilfield Solutions had a return on equity of 53.82% and a net margin of 9.71%. As a group, sell-side analysts forecast that NexTier Oilfield Solutions Inc. will post 2.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Susquehanna cut their target price on NexTier Oilfield Solutions from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, February 17th. Citigroup lifted their price target on NexTier Oilfield Solutions from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, February 17th. Raymond James initiated coverage on NexTier Oilfield Solutions in a research report on Friday, December 9th. They set a “strong-buy” rating and a $19.00 price target on the stock. StockNews.com upgraded NexTier Oilfield Solutions from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 17th. Finally, Morgan Stanley lowered their price target on NexTier Oilfield Solutions from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 4th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NexTier Oilfield Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.59.

NexTier Oilfield Solutions Profile

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NexTier Oilfield Solutions, Incis an oilfield service company. It offers completion solutions, hydraulic fracturing, wire line, pump down, coiled tubing, cementing, rig services, special services, and fluids management services. The company operates through the following segments: Completion Services, Well Construction and Intervention Services, and Well Support Services.